I am 27, single and I am planning to apply for mortgage soon.
My salary is 48'000, so I know it will be difficult as single applicant.
I have €36'000 that I got recently (payout) and I've been saving for past 3 months (€1k, €1k, €400 due to holiday) [So €38'400 Total] and I plan to save €1k p/m for another 3 months and then go see mortgage advisor. (I only recently found out - doesn't matter if you have money for deposit or not - you need to show history of savings)
1) Just wondering how does bank view savings?
If I was to take out €10'000 right now from my savings (my payout and savings is under one account in bank), would that count that I've saved €0 over past 3 months? (Because I took out more than I saved?)
Could I somehow indicate that I am taking this out of my payout rather than savings I've been making into same account?
2) Let's say if I need €10'000 for a new-ish car, would I be better off getting loan or take it out of my payout money (depends on advice to Question 1 I guess)?
3) What's the minimum you need to make in savings per month to have good chance of getting mortgage? I am currently aiming for €1000 per month savings, would they require more?
4) I heard you can also use proof of rent payments towards mortgage application, my rent is 700 per month and I am renting room with no contract, will they see this consistent payment monthly or should I somehow request my house mate/landlord for written proof?